In previous chapter, we have learned from “The Path to Information Value” that 70% (seventy percent) of managers and executives say data are “extremely important” for creating competitive advantage. In addition, it is implied by the authors that, “The key, of course, is knowing which data matter, who within a company needs them, and finding ways to get that data into users’ hands.”
Based on the company you have identified for your Final Paper, discuss 1) the data that matters to the executives in that industry, 2) who, within that industry, needs that data, and 3) some methods for ensuring that the critical data gets into the users’ hands. Remember to respond to two other learners’ post, letting them know if they missed any data or details in their industry.
https://pdfs.semanticscholar.org/dad7/ab8ea4007048… Section 6.0
The discussion question this week asks you to consider the company that you will be working with in our class. Choose an established, large company for which you can develop an enterprise-level information governance program. It can be a real or fictional company because your focus is on the industry and information governance, not the company.
Here is the scenario..
“You have recently been hired as a Chief Information Governance Officer (CIGO) at a large company (You may choose your industry). This is a newly created position and department within the organization that was founded on the need to coordinate all areas of the business and to provide governance of the information. You will need to hire for all positions within your new department.
The company has been in business for more than 50 years and in this time has collected vast amounts of data. Much of this data has been stored in hard copy format in filing cabinets at an offsite location but in recent times, collected business data is in electronic format stored in file shares. Customer data is being stored in a relational database, but the lack of administration has caused data integrity issues such as duplication. There are currently no policies in place to address the handling of data, business or customer. The company also desires to leverage the marketing power of social media, but has no knowledge of the types of policies or legal issues they would need to consider. You will also need to propose relevant metrics that should be collected to ensure that the information governance program is effective.
The CEO and Board of Directors have tasked you to develop a proposal (paper) that will give them the knowledge needed to make informed decisions on an enterprise-wide Information Governance program, addressing (at a minimum) all of these issues, for the company.“
Here are the posts for which responses are needed.
Data governance involves the proper handling of an organization’s data across the business organization. Data governance in an organization ensures that any data problem or issue is solved and that the data is ready for being used in various business processes such as decision making and also in business models. Business organizations use data governance to ensure that their information assets are correctly and efficiently managed throughout the organization to achieve trust as well as accountability. This, therefore, enables the business organization to scale up its business operations (Ahern and Harford, 2014).
On the other hand, Information Technology (IT) is highly essential in any business organization. This is because organizations make use of computers to store, retrieve, and transmit data as well as manipulating information, and is what entails IT. IT enables business organizations to work efficiently, thereby maximizing their productivity. It also helps in the protection of various organization’s valuable records.
An organization’s data is usually the most critical asset. The necessary information significantly matters to thee organizations, some of the reasons why data matters include enhancing better understanding of the customer, and it helps organization managers to improve decision-making as well as business operations, among others.it also helps to deliver better products or services in a business. The business organization as a whole needs data since it enables businesses to optimize their performances. Business organizations should, however, implement data analytics into their business model to identify more effective ways of doing business, since they will be able to store large amounts of data.
Data is considered to be of value to a firm. There is therefore need to ensure that it is built, cleaned and maintained for it to remain valuable. Effective governance of information in any firm can yield numerous benefits such as reduced costs and reduced litigation risks (Smallwood, Kahn & Murphy, 2014 p. 98). Software development is very critical to any business either in medicine, automobiles and retail among others. Failure to empower software executives with the right data to code and come up with the right software may be costly. One, it exposes the business to tech-based disruption. Innovation can disrupt business models thus benefiting new entrants compared to conventional players. Two, it may lead to sub-optimal user experience. Customers are now more informed and expect that businesses offer superior experience with the business systems, failure to which, they switch. Third, the business may incur high costs but acquire low margins. Therefore, software executives should be equipped with the right business information and strategies to develop solutions that optimize operations.
Software engineers have a role to play in coming up with systems that afford the business optimum benefits for its investments. The most important information to attain this role includes: setup decisions to guide the organizational roadmap; product or service management practices which aid conceptualization and architecture; product development activities which help build and try-out quality solutions; delivery techniques; and enabling elements which help in planning and operationalization (Gnanasambandam et al, 2017). Business executives should furnish the engineers with all this information to get the right output. The information should be readily available upon request. However, confidentiality and integrity must be a priority to ensure that information security is maintained. Only authorized persons should have access and use the information.